EU Clears Caterpillar To Buy US Mining Equipment Maker Bucyrus
May 05 2011 - 3:49AM
Dow Jones News
The European Commission Thursday cleared U.S. company
Caterpillar Inc. (CAT) to buy mining equipment manufacturer Bucyrus
International Inc. (BUCY), as the operation won't hurt
competition.
"Whilst the transaction will result in high combined market
shares worldwide, the increase in market share accounted for by
Bucyrus is relatively low," the commission, which has antitrust
powers within the European Union, said in a statement.
"Furthermore, Caterpillar and Bucyrus are not generally viewed as
each other's closest competitors and several other large players
will remain on the market," it added.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com
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